Management ENIC

[Kosher Kid]

Still fucking despise ENIC cunts and wish nothing but the worst on that dried up desiccated testicle Lewis btw.

Sorry just felt this thread was too low on hating them. Poster boys gone but the whole rotten batch of apples needs ousting.

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Would it not be prudent for supporters to wait and see what happens in the next 2 transfer windows?

I always felt that Levy ran the club in his own image and interests.

Perhaps the Lewis children, who were not partnered to Levy in the same way as their father, believe they can do a better job than Levy, without Levy, in the short to medium term?

If it proves to be more of the same I can't see the protests going away.

I do think Levy was a 'unique' type of individual.

 

[Teach]

Would it not be prudent for supporters to wait and see what happens in the next 2 transfer windows?

I always felt that Levy ran the club in his own image and interests.

Perhaps the Lewis children, who were not partnered to Levy in the same way as their father, believe they can do a better job than Levy, without Levy, in the short to medium term?

If it proves to be more of the same I can't see the protests going away.

I do think Levy was a 'unique' type of individual.

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100%.

You are spot on

My instinct tells me that prick was the albatross that dragged us down. So much information suggests so

 

[Play Up Spurs!!!!]

As I've mentioned, I don't believe there's any evidence of this, nor application where this is possible.

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I'm only relying on the official club announcement, viz.
"We are pleased to announce that our majority shareholder, the Lewis family trust, has, through ENIC Sports & Development Holdings Ltd (“ENIC”), injected £100 million of new capital into the Club."

I may be out of my depth, but if there's no mention of Levy and family, then the only way this works is for the Lewis family to increase their holding in ENIC by £100m, which then allows ENIC to increase its stake in Spurs.

The Levynomics X feed (see above) speculates similarly.

But you're saying that's not possible. Can you explain? (That's not a challenge, by the way, it's a plea for help )

 

[CJJ]

I'm only relying on the official club announcement, viz.
"We are pleased to announce that our majority shareholder, the Lewis family trust, has, through ENIC Sports & Development Holdings Ltd (“ENIC”), injected £100 million of new capital into the Club."

I may be out of my depth, but if there's no mention of Levy and family, then the only way this works is for the Lewis family to increase their holding in ENIC by £100m, which then allows ENIC to increase its stake in Spurs.

The Levynomics X feed (see above) speculates similarly.

But you're saying that's not possible. Can you explain? (That's not a challenge, by the way, it's a plea for help )

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"Of the total issued ordinary share capital of Tottenham Hotspur Limited (THL), ENIC SPORTS INC. (ENIC) ownership is 87.62% (from 86.91%) to reflect shares allotted in October 2025. ENIC also owns the one THL convertible A share.

Mr D Levy and certain members of his family are potential beneficiaries of discretionary trusts which ultimately own 29.88% of the share capital of ENIC.

A discretionary trust of which certain members of Mr J Lewis's family are potential beneficiaries ultimately owns 70.12% of the share capital of ENIC."

Shareholder Information | Tottenham Hotspur

Find Shareholder Information for Tottenham Hotspur, how to get in contact if you have queries and other shareholder questions.

www.tottenhamhotspur.com

 

[spids]

It's all about the mood music, and we want more than that.

Apart from small shifts in ownership, what's the difference between the Lewis family £100m capital injection and the two previous investments by ENIC, £150m-odd in 2022, and £30m last Dec/Jan? This isn't doing anything that wasn't done before. Therefore the promise of future investment doesn't necessarily signal a new policy.

Too much attention has been given to the effect on transfers. Yes, liquidity is helped, and, yes, we can continue the higher transfer spend that Levy initiated in recent years. But it's not enough.

Soccernomics tells us that transfer spend is less well correlated with success than the level of wages. That's how you recruit and retain the best players. Yet, we're paying wages at a low level, some 40% of turnover, when, if we're really interested in football success, we should be paying a sustainable 60% of turnover. That's a big gap.

If transfer spending is important to a degree, then we should be aiming to do better in 'player trading', selling as well as buying. We're reassured by those in the know that we'll start solving that problem soon because we've built up a reserve of young and potentially saleable talent. Let's see.

Far more importantly the current and future Lewis investments must enable new post-Levy era policy, especially a transformation of our wage structure and levels. These injections should be used to manage the relatively small operating losses in a transition period before an improved squad brings more success.

Otherwise, the music won't work.

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There is no doubt that since the stadium properly opened post Covid that our Net spending has significantly increased.

2016/17 = £31M
2017/18 = £17M
2018/19 = £5M profit
2019/20 = £86M
2020/21 = £97M
2021/22 = 61M
2022/23 = £141M
2023/24 = £151M
2024/25 = £130M
2025/26 = £127M

The transfer business of the club the last 3 or 4 years has been very good. There have been some mis-steps, but no club has every signing being a big success.

The cash injections have been about maintaining cash flow rather than funding big name signings. PSR dictates they cannot inject and spend £400m on new players. Adding the additional funds as new share capital is the best way to inject it as it dilutes the current owners shares rather than saddling the club with debt. Where we can definitely do better is selling players, and this is where I feel Levy caused us most pain with his unique negotiation style. Players like Johnson, Richarlison and Dragusin could easily be sold this January or next summer without harming the first team. Due to player amortisation, if we sell above the prices listed below we can record a profit (allowing us to spend more under PSR).

Richarlison : bought for £50m in 2022 : amortisation period = 5 years : book value in 2026 =£10m
Johnson : bought for £47.5m in 2023 : amortisation period = 6 years* : book value in 2026 = £23.75
Dragusin : bought for £25m in 2024 : amortisation period = 5 years : book value in 2026 = £15m

* The PL have since changed the maximum amortization period to 5 years after Chelsea found a loophole by giving players 8 or 9 year contracts.

With our squad as it is, we no longer need to buy 6 or 7 players every summer, and are now getting into the territory of 1 to 2 significant first team upgrades each year. We have also invested a lot to build a pipeline of talent, and that is coming to realisation as Sarr, Bergvall, Gray, Vuskovic etc. mature and, in some cases, become club trained. We also have genuine academy trained talents like Mikey Moore, Tyrese Hall and Williams-Barnett coming through the academy.

 

[Play Up Spurs!!!!]

"Of the total issued ordinary share capital of Tottenham Hotspur Limited (THL), ENIC SPORTS INC. (ENIC) ownership is 87.62% (from 86.91%) to reflect shares allotted in October 2025. ENIC also owns the one THL convertible A share.

Mr D Levy and certain members of his family are potential beneficiaries of discretionary trusts which ultimately own 29.88% of the share capital of ENIC.

A discretionary trust of which certain members of Mr J Lewis's family are potential beneficiaries ultimately owns 70.12% of the share capital of ENIC."

Shareholder Information | Tottenham Hotspur

Find Shareholder Information for Tottenham Hotspur, how to get in contact if you have queries and other shareholder questions.

www.tottenhamhotspur.com

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Thanks. I was wrong as was Levynomics, which is fascinating because, as you said earlier, there is an element of a gift to Levy – he gets a proportion of the new shares for free.

Who knows what this presages?

 

[Matt1882]

Was listening to Last Word on Spurs overly long video about ENIC etc late last week.
One thing the financial expert on there said struck me as something I hadn't considered.

We see £4.5bn as mental and too much money.

Buuuut

Not long ago, Microsoft purchased Activision for....$75bn

This year, PIF and Silverlake (sure that's Newcastle and Chelsea) purchased EA Sports for €55bn

Musk - Twitter $44bn



List of mahoosive fuck off acquisitions is madness. £4.5bn is pocket money for some of these people.

 

[Tomo]

Was listening to Last Word on Spurs overly long video about ENIC etc late last week.
One thing the financial expert on there said struck me as something I hadn't considered.

We see £4.5bn as mental and too much money.

Buuuut

Not long ago, Microsoft purchased Activision for....$75bn

This year, PIF and Silverlake (sure that's Newcastle and Chelsea) purchased EA Sports for €55bn

Musk - Twitter $44bn



List of mahoosive fuck off acquisitions is madness. £4.5bn is pocket money for some of these people.

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£4.5bn you get

- A premier league club that is very decent (despite the laughs) so you can play football manager
- massive name value all around the globe
- a big fuck off stadium and completed infrastructure
- land around the ground to build hotels and other stuff
- access to politicians and celebrities
- NFL, concerts and Boxing
- London based

I don’t see £4-5bn as over the top at all. Just on an ego level the Qatari's were trying to buy us not long ago so we could be a prize trophy of theirs. It’s more would ENIC sell, more and more money is coming into football, they won’t make much on the cash flow as that goes back into the team but the asset growth is huge and they can use it as collateral as well. I can’t see us sold for anything less than £4bn.

 

[spids]

Club valuations are based on more than how much money rich people have. Typically 5-6 times revenue is a good indicator, valuing us at at closer to £3.5Bn than £4.5Bn.

 

[Brian Fantana]

Was listening to Last Word on Spurs overly long video about ENIC etc late last week.
One thing the financial expert on there said struck me as something I hadn't considered.

We see £4.5bn as mental and too much money.

Buuuut

Not long ago, Microsoft purchased Activision for....$75bn

This year, PIF and Silverlake (sure that's Newcastle and Chelsea) purchased EA Sports for €55bn

Musk - Twitter $44bn



List of mahoosive fuck off acquisitions is madness. £4.5bn is pocket money for some of these people.

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If I was paying that amount of money for companies I would definitely buy a football club for £4.5 billion to piss about with just for a bit of fun. Why not? The way football is going we could be worth double that in 10 years time. All I obviously would probably have to invest that amount during that period for sustained success.

 

[Perryman]

"Of the total issued ordinary share capital of Tottenham Hotspur Limited (THL), ENIC SPORTS INC. (ENIC) ownership is 87.62% (from 86.91%) to reflect shares allotted in October 2025. ENIC also owns the one THL convertible A share.

Mr D Levy and certain members of his family are potential beneficiaries of discretionary trusts which ultimately own 29.88% of the share capital of ENIC.

A discretionary trust of which certain members of Mr J Lewis's family are potential beneficiaries ultimately owns 70.12% of the share capital of ENIC."

Shareholder Information | Tottenham Hotspur

Find Shareholder Information for Tottenham Hotspur, how to get in contact if you have queries and other shareholder questions.

www.tottenhamhotspur.com

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The only problem Daniel own8ng nearly 30% is that if he wants to be an awkward twat and not sell his share. Don’t know if he can block it or not. Probably some way round it. He would be worth best part of a billion.

 

[Tomo]

Club valuations are based on more than how much money rich people have. Typically 5-6 times revenue is a good indicator, valuing us at at closer to £3.5Bn than £4.5Bn.

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You can’t play football manager with Tesco’s, buying a club is as much an about status, having fun as a billionaire and wanting a wild ride. That probably adds a billion on its own if not more. The people who would most likely buy us will be rich enough to not care about money in the short term or even long term. We would be like all the stupid toys Michael Jackson had at his home.

 

[GinolasLeftFoot]

Would it not be prudent for supporters to wait and see what happens in the next 2 transfer windows?

I always felt that Levy ran the club in his own image and interests.

Perhaps the Lewis children, who were not partnered to Levy in the same way as their father, believe they can do a better job than Levy, without Levy, in the short to medium term?

If it proves to be more of the same I can't see the protests going away.

I do think Levy was a 'unique' type of individual.

Click to shrink...

I pretty much hate ENIC, but always give people a chance, and would rather have someone I dislike in charge the of club, but makes a success of it, than someone I do like, and turns it into a pigs ear of disaster.

I think a few years would be fair, it is going to take a few years to undo the damage Levy has done.

 

[Kosher Kid]

I pretty much hate ENIC, but always give people a chance, and would rather have someone I dislike in charge the of club, but makes a success of it, than someone I do like, and turns it into a pigs ear of disaster.

I think a few years would be fair, it is going to take a few years to undo the damage Levy has done.

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What I want is ENIC to buy Levy's shares further down the road and turn Spurs around while they do it .

I'd be very happy if their ownership of the club led to Levy's shares in ENIC and THFC being devalued.

That would be my preferred option.

 

[GinolasLeftFoot]

What I want is ENIC to buy Levy's shares further down the road and turn Spurs around while they do it .

I'd be very happy if their ownership of the club led to Levy's shares in ENIC and THFC being devalued.

That would be my preferred option.

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I don't care about Levy any more, he's gone.

All I want is for spurs to compete and actually have a good chance of winning things.

 

[Kosher Kid]

I don't care about Levy any more, he's gone.

All I want is for spurs to compete and actually have a good chance of winning things.

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I agree but;

If ENIC stitch Levy up that would make it all the sweeter.

 

[CJJ]

The only problem Daniel own8ng nearly 30% is that if he wants to be an awkward twat and not sell his share. Don’t know if he can block it or not. Probably some way round it. He would be worth best part of a billion.

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I think the way it is phrased and how trusts work is that he's (and his family) essentially a passive shareholder. It is worded that both the lewis family and the levy family are just beneficiaries, rather than owners.

So AFAIK, the most efficient buying process would be for someone to buy ENIC rather than the club, to avoid all kinds of red tape, but also to no doubt make everything involving that process simpler.

 

[spids]

You can’t play football manager with Tesco’s, buying a club is as much an about status, having fun as a billionaire and wanting a wild ride. That probably adds a billion on its own if not more. The people who would most likely buy us will be rich enough to not care about money in the short term or even long term. We would be like all the stupid toys Michael Jackson had at his home.

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Billionaires do not become billionaires without being good with money. And over paying by a billion does not happen. Be careful what you wish for. For every owner like the Saudi PIF fund, there are a lot more Glaziers and Gilletes out there. Michael Jackson may have spunked his money on a load of expensive toys but was reportedly $500M in debt at the time of his death, forced to perform, and arguably led to the painkiller overdoes that ultimately killed him.

 

[Tomo]

Billionaires do not become billionaires without being good with money. And over paying by a billion does not happen. Be careful what you wish for. For every owner like the Saudi PIF fund, there are a lot more Glaziers and Gilletes out there. Michael Jackson may have spunked his money on a load of expensive toys but was reportedly $500M in debt at the time of his death, forced to perform, and arguably led to the painkiller overdoes that ultimately killed him.

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The Arabs have money out their ears, we are a luxury item to them we are not there to make money, we are there to enable them to wave their dicks, to boost their ego and to have a very long term asset on the books. Football clubs are to some of the rich particularly the very richest play things, that does add value, a lot of value. If Spurs get sold for anything significantly below £4bn I will be Genuinely shocked.

 

[Harrier]

View: https://youtu.be/XyN8xMAIKA4?si=8hkw9Kuo1f6ke2lX